British bankers are expected to suffer of “supertax” on bonuses

Bankers will pay higher taxes on bonuses

In brief: British Chancellor of the Exchequer is going to make a sensational innovation of Pre-Budget Report of the year

British Chancellor of the Exchequer Mr. Alistair Darling is going to make a sensational innovation of Pre-Budget Report (PBR) of the year. The Chancellor is expected to announce a “supertax” on bonuses that means a punitive new tax on bankers’ incomes.

It concerns a one-off tax on the bonuses of bankers at a rate higher than the new 50% band for earnings over £150,000 due that is to come into effect in April, 2010.

Mr. Darling explains such step by the fact that public cash was used to save the financial sector of state economics and now ordinary taxpayers may expect to a larger share of bankers’ payouts. But accountants are against this new tax system.

Meantime it is supposed that the Chancellor presents rebates on electric cars, solar panels and home wind turbines in order to support green taxpayers.

The introducing of this crucial PBR is to effect the next general election.

Maria Velikanova
2009-12-08 09:48, Economics.

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